Jefferies Financial Group Raises General Mills (NYSE:GIS) Price Target to $62.00

General Mills (NYSE:GIS) had its price target raised by equities research analysts at Jefferies Financial Group from $58.00 to $62.00 in a research report issued on Monday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential downside of 0.23% from the company’s previous close.

Several other brokerages also recently weighed in on GIS. Barclays reduced their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Mizuho lowered their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Piper Sandler lowered their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Stifel Nicolaus reduced their target price on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, TD Cowen reduced their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $68.24.

General Mills Stock Down 4.8 %

GIS stock opened at $62.15 on Monday. The stock has a market capitalization of $34.26 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills has a 1-year low of $55.15 and a 1-year high of $75.90. The business has a fifty day moving average price of $60.34 and a 200-day moving average price of $65.87.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. Equities analysts forecast that General Mills will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Mills

A number of hedge funds have recently made changes to their positions in GIS. Vanguard Group Inc. lifted its holdings in shares of General Mills by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after acquiring an additional 1,868,508 shares in the last quarter. State Street Corp lifted its holdings in General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares in the last quarter. Geode Capital Management LLC lifted its holdings in General Mills by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock worth $923,907,000 after buying an additional 136,895 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of General Mills by 34.5% in the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after purchasing an additional 2,341,137 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of General Mills by 18.4% during the 4th quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock valued at $514,101,000 after buying an additional 1,253,483 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.